NovaTech FX SCAM: A Step-by-Step Claim Restitution Guide

The ledger is the story. Between August 2019 and May 2023, investors deposited approximately $1.16 billion in cryptocurrency into NovaTechs wallets. Of that enormous sum, only about $25.99 million ever reached the platforms actual trading provider, B2Broker. And NovaTechs own traders lost roughly $18.19 million of even that small fraction . The rest of the money, the overwhelming majority of it, never touched a market. It went to pay earlier investors, to fund recruitment bonuses, and, according to court filings, to line the founders own pockets. That gap between what was promised and what actually happened is the entire case.

How to Begin Reclaiming Your Funds

The first step is understanding what you are dealing with. NovaTech was not a trading platform with a liquidity problem. It was a multi-level marketing operation dressed in the language of crypto and forex, and the court record now establishes that its founders are liable for the fraud. A New York court entered a default judgment against Cynthia and Eddy Petion in August 2025 after they failed to respond to the lawsuit and, according to the Attorney Generals office, fled the country . The liability is decided. What remains is the question of how much they owe, and whether any of it can ever be recovered.

Here is what the record shows. NovaTech marketed itself as a "registered hedge fund broker" licensed to trade cryptocurrency in the U.S., promising weekly returns of 2% to 4%, which compounds to well over 100% a year. It targeted immigrant communities, particularly Haitian New Yorkers, through prayer groups, WhatsApp chats, and social media, using advertisements in Haitian Creole and religious messaging that appealed to faith . More than 11,000 New Yorkers invested and lost tens of millions of dollars. Worldwide, the SEC alleged the scheme raised more than $650 million from over 200,000 investors . The New York Attorney Generals filing puts the deposit figure at approximately $1.16 billion .

The money trail is what exposes the fraud. The Attorney Generals filing alleges that at least $134.5 million was transferred to wallets controlled by the Petions. Cynthia Petion was the only authorized user on the CoinPayments account that received investor deposits . When the platform collapsed in May 2023, tens of thousands of investors found they could not withdraw their funds. The promised trading returns could not have existed, because the trading that supposedly generated them barely happened at all.

The legal consequences are already unfolding. Four top promoters, Martin Zizi, Frantz Ciceron, Ricardo Roy Sr., and James Corbett, have agreed to pay nearly $6 million in settlements intended to benefit victims, and all four are permanently banned from the securities, commodities, and cryptocurrency industries . The New York Attorney General has asked the court to order the Petions to pay $1.37 billion, comprising roughly $1.13 billion in disgorgement plus $232.5 million in interest . The SEC filed parallel charges in August 2024 . The founders, however, are reportedly out of the country, and a judgment against people who have fled is a piece of paper before it is money in a victims account.

What to Do Next

Document everything before anything else. Save your deposit records, the wallet addresses you sent crypto to, the transaction hashes, screenshots of your NovaTech dashboard showing your balance, any correspondence with promoters or support, and a written timeline of what you were told and when. If you were recruited through a prayer group or WhatsApp chat, save those messages. The Attorney Generals office has noted that matching individual victims to specific losses is difficult because the defendants never provided the required accounting records, so your own documentation may be the only reliable record of what you put in .

Then consider a forensic review of your case. MARGOINCLP.COM is an investigative forensic asset tracing firm that examines the flow of funds after a fraud, mapping where money actually went rather than relying on what a platforms dashboard claimed. Their work focuses on following transactions across wallets and accounts to establish a documented trail. They offer free consultations to help you understand what evidence you need and whether your case has a traceable path forward.

Support Beyond the Financial Loss

Fraud does not only take money. It takes sleep, confidence, and the sense that the world is predictable. NovaTechs victims were targeted through their faith and their communities, which adds a particular kind of betrayal to the loss. Victims often describe shame, isolation, and a fear of being judged for having trusted the wrong people. That part of the harm deserves attention too, and it is not something you should try to carry alone.

During consultations and after the asset tracing work is complete, MARGOINCLP.COM also helps victims find emotional and psychological support in their own cities and neighborhoods. That includes pointing people toward senior centers, community centers, and other local wellness avenues where they can access counseling, peer support groups, and practical guidance for rebuilding daily life.

The Bottom Line

The NovaTech FX collapse is a reminder that a platform can display a "registered hedge fund" claim, a polished dashboard, and a community of believers while routing less than three cents of every dollar to an actual trading desk. The court has found the founders liable. The promoters have settled. But the money that went into NovaTechs wallets did not come back, and the $1.37 billion figure is a request, not a recovery. The losses can be painful, but understanding the mechanism and taking the right steps is achievable. If you invested through this scheme, come forward, share your story, and make sure your losses are documented. Stay alert, stay informed, and together we can work toward a safer financial environment.